South Korea Imports Less Saudi Crude

摘要

South Korea's imports of Saudi crude tumbled in May, sinking to their lowest level in nearly a year. This occurred despite an increase inthe country's overall crude imports and likely refl ects refi ners' response to offi cial Saudi export prices that were regarded as too high. South Korean imports of Saudi crude sank by 200,000 b/d from April to 784,000 b/d in May, their lowest level since last June,according to data from Korea National Oil Corp. Infl ows were also down by 93,000 b/d versus May 2022. A similar drop occurred in China's imports of Saudi crude.